In a recent article in the South China Morning Post, William R. Rhodes, former Chairman, CEO, and President of Citibank, and Stuart Mackintosh, Executive Director of the Group of Thirty, discuss how China can avoid the mistakes made in US banking culture and supervision as it seeks to redesign its regulatory system.
The recent banking troubles in the US highlight the need for a frank assessment of the failures and faults of many actors. Central bankers and supervisors globally could learn lessons from the mistakes made regarding banking culture, regulation, and supervision, they argue.
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